Portolan Capital Management LLC Raises Position in i3 Verticals, Inc. (NASDAQ:IIIV)

Portolan Capital Management LLC raised its holdings in i3 Verticals, Inc. (NASDAQ:IIIV - Free Report) by 3.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 676,135 shares of the company's stock after acquiring an additional 23,063 shares during the period. i3 Verticals comprises about 1.0% of Portolan Capital Management LLC's investment portfolio, making the stock its 29th largest holding. Portolan Capital Management LLC owned about 2.02% of i3 Verticals worth $15,578,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of IIIV. AltraVue Capital LLC bought a new stake in i3 Verticals in the 4th quarter valued at approximately $20,993,000. Raymond James Financial Inc. acquired a new position in i3 Verticals during the fourth quarter worth approximately $13,313,000. Legato Capital Management LLC bought a new stake in i3 Verticals in the 4th quarter valued at $4,233,000. New York State Common Retirement Fund boosted its holdings in shares of i3 Verticals by 1,855.9% during the 4th quarter. New York State Common Retirement Fund now owns 175,833 shares of the company's stock worth $4,051,000 after buying an additional 166,843 shares during the period. Finally, Royce & Associates LP grew its position in shares of i3 Verticals by 10.7% in the fourth quarter. Royce & Associates LP now owns 541,350 shares of the company's stock valued at $12,473,000 after purchasing an additional 52,510 shares during the last quarter. 84.22% of the stock is owned by institutional investors.

i3 Verticals Stock Up 0.2 %

IIIV traded up $0.05 during trading on Friday, hitting $25.15. The company's stock had a trading volume of 193,660 shares, compared to its average volume of 228,580. The firm has a market capitalization of $831.81 million, a P/E ratio of 5.60 and a beta of 1.36. i3 Verticals, Inc. has a twelve month low of $18.75 and a twelve month high of $29.80. The stock's fifty day moving average price is $25.39 and its 200-day moving average price is $24.35.

i3 Verticals (NASDAQ:IIIV - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The company reported $0.23 EPS for the quarter, missing analysts' consensus estimates of $0.28 by ($0.05). i3 Verticals had a return on equity of 3.36% and a net margin of 41.85%. Equities research analysts expect that i3 Verticals, Inc. will post 0.9 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on IIIV. Morgan Stanley boosted their price target on i3 Verticals from $22.00 to $27.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 12th. KeyCorp upped their price target on shares of i3 Verticals from $27.00 to $32.00 and gave the stock an "overweight" rating in a report on Monday, February 10th. BMO Capital Markets boosted their target price on shares of i3 Verticals from $22.00 to $26.00 and gave the stock a "market perform" rating in a report on Monday, February 10th. Finally, DA Davidson increased their price target on i3 Verticals from $32.00 to $34.00 and gave the company a "buy" rating in a research note on Monday, February 10th. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, i3 Verticals currently has a consensus rating of "Moderate Buy" and an average target price of $29.86.

About i3 Verticals

i3 Verticals, Inc provides integrated payment and software solutions primarily to the public sector and healthcare markets in the United States. It operates in two segments, Software and Services, and Merchant Services. The company offers payment processing services that enables upper and lower court case management, collections, finance and accounting, motor vehicle and carrier registration, e-filing and taxation, license plate inventory, property tax management, utility billing, professional licensing, document workflow, and law enforcement software; assists public schools in completing payment processing functions, including accepting payments for online or at school lunches, and school activities.